backbencher:
The fact is, we should have removed this subsidy in 2012 when we had the money to pay all the palliatives we wanted

But many Nigerians, including APC opposed the move because politics

Now APC is taking a decision that should have been taken ten years ago, and if we had taken it ten years ago by now we would have ha refineries,jobs, more income and more investment and we would have been exporting refined product by the ton.

Anyway,subsidy has to go,but APC should know that they goofed up in 2012

Echoban:


Uncle Jonathan GEJ sold fuel for #140. Stop giving us ill info to suit ur stereotype bitter mind.

Advocate500:
most of you will comment as if those reading your comments are fools, at what point can you say that subsidies have been removed oga? Fuel was increased from 87 to 140,140 to 167,then they have not finished removing subsidies, oga how do we know when subsidies have been removed?

Talking about making savings from subsidies removal, what happened to reducing cost of governance? Can't we makeup whatever we losing from subsidies payment from the gain we made from reducing cost of governance?

fishman:
Believe what any nairalander types here at ur own peril...Fellow Nigerians we love talking too much and scared when it comes to act ...No country ever moves forward this way
Trust and mark my word the increase will happen and nothing will happen

Advocate500:
most of you will comment as if those reading your comments are fools, at what point can you say that subsidies have been removed oga? Fuel was increased from 87 to 140,140 to 167,then they have not finished removing subsidies, oga how do we know when subsidies have been removed?


Talking about making savings from subsidies removal, what happened to reducing cost of governance? Can't we makeup whatever we losing from subsidies payment from the gain we made from reducing cost of governance?

Partial subsidy removal is what has been happening since at least 1981...when fuel cost 15 kobo and was raised to 45 kobo

The thing is , subsidy is the money paid to the petroleum sector to cover the loss that results from them selling fuel at a price below the production cost of the fuel per liter....a price forced on them by government by the way.

Part of the money also goes to the transport sector to keep transporting the fuel costs down.

Problem with subsidy is the cost of production. It never stays at one level. It always rises because oil workers want to be paid higher salaries...from the drillers to the processors, and also because maintenance costs rise as well, as do transport costs, and costs of upgrades.

We destroyed our refinereis by refusing to pay those costs , meaning NNPC could not afford to upgrade and maintain refinereis (what they are doing in PH and Warri is something that should have been done in decades). Salaries were paid directly out of the oil revenue, not from NNPC earnings, because NNPC has been running at a loss

Thus we ended up importing and importing fuel..as at 2011 we imported 80% of our fuel used here. THat added a lot more costs, and thus more subsides.

From time to time, government reduces the amount of money spent on subsidy, which manifests as a price increase. That is what they mean by subsidy removal...which in reality is partial subsidy removal.

It's also why fuel does not cost 15 kobo like it did 41 years ago.

royalamour:
When it comes to issues that requires emotional intelligence and technicality, they send Osinbajo.

Gwongworo man will always run away from it.

Not for the numbers, these people shouldn't be near sensitive positions.

It not funny.

bcomputer101:
There's nothing as FUEL SUBSIDY -GMB 2014


Today the same id!ot parading himself as our president now want to remove what he claimed it doesn't exist.
With due respect sir, God will punish you.
Thunder fire your left yansh for the suffering you've brought on Nigerians

Basheer22:
Remove subsidy and the masses will burn this country. Endsars will be a child's play as this one touches everybody. Buhari's ratings are already low in Arewa, he wants to cement his legacy as a disaster.

backbencher:



As a follow up to my previous response, I am re-posting this



For more info...read link below

Fuel subsidies in Nigeria

Advocate500:
let me agree with you that subsidies removal is gradual process ,only this government have increased fuel 2times within 6years and also planning to increase for the 3time and you see nothing wrong with that? I know you are a paid propagandist.

backbencher:
The fact is, we should have removed this subsidy in 2012 when we had the money to pay all the palliatives we wanted

But many Nigerians, including APC opposed the move because politics

Now APC is taking a decision that should have been taken ten years ago, and if we had taken it ten years ago by now we would have ha refineries,jobs, more income and more investment and we would have been exporting refined product by the ton.

Anyway,subsidy has to go,but APC should know that they goofed up in 2012

Echoban:


Uncle Jonathan GEJ sold fuel for #140. Stop giving us ill info to suit ur stereotype bitter mind.

TheRareGem1:
There is never a better time to remove subsidy however, this proposed N5,000 for transport palliative is small considering the present economy situation in the country and I hope the VP find a level playing ground to make happy both parties.

backbencher:
The fact is, we should have removed this subsidy in 2012 when we had the money to pay all the palliatives we wanted

But many Nigerians, including APC opposed the move because politics

Now APC is taking a decision that should have been taken ten years ago, and if we had taken it ten years ago by now we would have ha refineries,jobs, more income and more investment and we would have been exporting refined product by the ton.

The problem and the solution is not subsidy removal. When they increased fuel 187-147 then it reduced fuel subsidy dependency by a lot.. the the fuel kept increasing simply because naira keep devaluing. Immediately they remove fuel subsidy, the naira will keep devaluing and fuel price steady increasing like diesel.

Anyway,subsidy has to go,but APC should know that they goofed up in 2012

backbencher:


Partial subsdy removal is what has been happening since at least 1981...when fuel cost 15 kobo and was raised to 45 kobo

The thing is , subsidy is the money paid to the petroleum sector to cover the loss that results from them selling fuel at a price below the production cost of the fuel per liter....a price forced on them by government by the way.

Part of the money also goes to the transport sector to keep transporting the fuel costs down.

Problem with subsidy is the cost of production. It never stays at one level. It always rises because oil workers want to be paid higher salaries...from the drillers to the processors, and also because maintenance costs rise as well, as do transport costs, and costs of upgrades.

We destroyed our refinereis by refusing to pay those costs , meaning NNPC could not afford to upgrade and maintain refinereis (what they are doing in PH and Warri is something that should have been done in decades). Salaries were paid directly out of the oil revenue, not from NNPC earnings, because NNPC has been running at a loss

Thus we ended up importing and importing fuel..as at 2011 we imported 80% of our fuel used here. THat added a lot more costs, and thus more subsides.

From time to time, government reduces the amount of money spent on subsidy, which manifests as a price increase. That is what they mean by subsidy removal...which in reality is partial subsidy removal.

It's also why fuel does not cost 15 kobo like it did 41 years ago.

duality:
So which subsidy was removed before


I've still not got answer to that question.

This games are used for price increase

tunjilana:


I disagree with you. Those costs you listed are not the major things that keep incrasing the cost of fuel. the real deal is the international price of crude and the cost of shipping from wherever we import from.

As long as we keep importing, we are subjecting ourselves to factors that should naturally not affect us per se. The advantage of being an oil producing nation is eroded, we are forced to land refined products just like every nation who doesnt have crude at their backyard.

It is like a farmer who exports cassava(crude) only to buy garri(petrol) fom a nation who has invested in garri processing machines(refineries) and sources cassava(crude) from all over the world at international best prices... He is buying that garri at the same rate someone in Alaska who doesnt have tropical temperature to plant cassava, will buy it. that is the curse our leaders have subjected us to!!!....

If we have working refineries and a daily allotment of crude, sufficient to take care of our domestic consumption, NNPC will still sell at rates enough to pay good salaries, maintain infrastructure and do most of the stuff u mentioned without killing Nigerians... To even add icing to it, they may begin to refine and sell petrol instead of crude, thus earning more revenue

tunjilana:


You are making it sound like it is subsidy that is making it hard for the govt to fix refineries!!!. Why cant the govt fix refineries or even build new ones and let importation go away as well as subsidy. Truth remains that even after subsidy removal, the same corruption that has been preventing govt-owned refineries from working, will still remain, the only thing that will thrive are private refineries like Dangote and more...and those ones will sell at international best prices...they may even claim or actually import the crude they use...or will u force a private businessman to use his cassava to make garri for Nigerians to eat when there is a demand for same cassava abroad @ premium dollar...For all we care Dangote may do more of exports than fixing our local consumption...A responsible govt will ensure we have state-owned, non-corrupt, functional refineries before even talking about subsidy...The reasons why they brought in subsidy is still here ....remove the reason and it will go naturally

backbencher:


It's called a partial removal of subsidy, not a full removal

SO long as government controls the price, there is a subsidy.



We should reduce cost of governance, well well, but it won't solve our cash crunch problem at all.

P.S Don't abuse me, and I did not assume that anyone reading my comment is a fool. Thank you

Luckydubby7:

Did government told u now that they will stops controlling the price? Do we bet?

poiZon:

Nothing will happen baba.

Infact nlc will have 2 factions, one being controlled n projected by govt to cause division in their union.

The govt faction will totally support govt actions and accept any form of palliative thrown at us.
After 5days of littering , loitering n toiling around major streets in Nigeria, una go return back to ur homes.
Baba will jet out to dubai to attend security submit organised by islamic scholars.